ON Semiconductor Corporation (NASDAQ:ON) Q2 2020 Earnings Conference Call - Final Transcript

Aug 10, 2020 • 09:00 am ET


ON Semiconductor Corporation (NASDAQ:ON) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the ON Semiconductor Second Quarter 2020 Earnings Conference Call.

[Operator Instructions]

I would now like to hand the conference over to your speaker for today Mr. Parag Agarwal. Sir, please go ahead.

Parag Agarwal

Thank you, Jay. Good morning and thank you for joining ON Semiconductor Corporation's second quarter 2020 quarterly results conference call. I'm joined today by Keith Jackson, our President and CEO, and Bernard Gutmann, our CFO. This call is being webcast on the Investor Relations section of our website, at www.onsemi.com. A replay of this webcast, along with our 2020 second quarter earnings release, will be available on our website approximately one hour following this conference call, and the recorded webcast will be available for approximately 30 days following this conference call. The script for today's call, and additional information related to our end markets, business segments, geographies, channels, share count and 2020 and 2021 fiscal calendars are also posted on our website. Our earnings release and this presentation include certain non-GAAP financial measures, reconciliation of this non-GAAP financial measures to the most are actually comparable measures under GAAP are included in our earnings release, which is posted separately on our website in the Investor Relations section.

During the course of this conference call, we will make projections or other forward-looking statements regarding future events or future financial performance of the Company. The words believe, estimate, project, anticipate, intend, may, expect, will, plan, should, or similar expressions are intended to identify forward-looking statements. We wish to caution that such statements are subject to risks and uncertainties that could cause actual events or results to differ materially from projections. Important factors, which can affect our business, including factors that could cause actual results to differ from our forward-looking statements are described in our Form 10-K, Form 10-Qs and other filings with Securities and Exchange Commission. Additional factors are described in our earnings release for the second quarter of 2020. Our estimates or other forward-looking statements may change and the Company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors, except as required by law.

We plan to host our Analyst Day on March 5, 2021. At this time, our intent is to hold the event virtually. However, if conditions improve and risks related to COVID-19 pandemic subside substantially, we will hold the event in-person event in Phoenix, Arizona. We will provide additional information on the event in due course.

During the third quarter, we plan to attend four virtual conferences. These include KeyBanc Capital Markets' Future of Technology Series on August 11th, Jefferies' Virtual Semiconductor, IT Hardware & Communications Infrastructure Summit on September 2nd, Citi Global Technology Conference on September 10th, and Deutsche Bank Technology Conference on September 15th.

Now, let me turn it over to Bernard Gutmann, who will provide an overview of our second quarter 2020 results. Bernard?

Bernard Gutmann

Thank you Parag, and thank you everyone for joining us today. During the